1st move above its 200 day moving average since March 6
The GBPJPY has extended higher, and in the process moved above its 200 day moving average for the 1st time since March 6. That moving average currently comes in at 137.18. The high price just reached 137.38. The moving averages closest risk now for longs. More conservative risk would come in around the previous highs for the day around 137.05.
Yesterday the price moved above and close above its 100 day moving average (blue overlaid line in the chart below currently at 136.085). The up and down price action in today's session saw the lows stay above that moving average level. That gave the buyers/bulls more confidence to take the price higher.
